DOCSLIB.ORG

6 Activity of Bank Pekao SA

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
6 Activity of Bank Pekao SA Report on the activities of Bank Pekao S.A. for the year 2019 Warsaw, February 20 20 This document is a free translation of the Polish original. Terminology current in Anglo -Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation. Report on the activities of Bank Pekao S.A. for the year 2019 1 Highlights of Bank Pekao S.A. ...................................................................................................................... 3 2 Summary of Performance .............................................................................................................................. 4 3 External Activity Conditions .......................................................................................................................... 6 4 Important Events and Achievements .........................................................................................................14 4.1 Changes in the Group’s structure ...........................................................................................................14 4.2 Changes in the Statutory Bodies of the Bank .........................................................................................15 4.3 Organizational changes ..........................................................................................................................22 4.4 Awards and distinctions ..........................................................................................................................23 5 Information for the Investors .......................................................................................................................26 5.1 The Bank’s share capital and share ownership structure.......................................................................26 5.2 Performance of market valuation of Bank Pekao S.A.’s stock ...............................................................28 5.3 Dividend payment history........................................................................................................................29 5.4 Investor Relations ...................................................................................................................................30 5.5 Financial credibility ratings ......................................................................................................................31 5.5.1 Bank Pekao S.A. financial credibility ratings ............................................................................31 6 Activity of Bank Pekao S.A. .........................................................................................................................33 6.1 Important factors influencing the Bank’s activities and results ...............................................................33 6.2 Major sources of risk and threats ............................................................................................................36 6.3 Capital adequacy ....................................................................................................................................39 6.4 Bank Pekao S.A. on the Polish banking market .....................................................................................42 6.4.1 Individual clients and Private Banking ......................................................................................44 6.4.2 Small and micro enterprises (SME) ..........................................................................................51 6.4.3 Corporate customers ................................................................................................................53 6.5 Investing in human capital ......................................................................................................................58 6.6 Sponsorship and charity policy ...............................................................................................................63 7 Statement of Financial Position and Financial Results ............................................................................65 7.1 The unconsolidated income statement – presentation form ..................................................................65 7.2 Structure of the unconsolidated statement of financial position – short form.........................................71 7.2.1 Assets .......................................................................................................................................72 7.2.2 Liabilities ...................................................................................................................................74 7.2.3 Off–balance sheet items ...........................................................................................................77 7.3 Unconsolidated income statement – long form ......................................................................................79 7.3.1 Unconsolidated income statement – long form ........................................................................79 7.3.2 Unconsolidated statement of comprehensive income ..............................................................81 7.3.3 Unconsolidated income statement – presentation form ...........................................................82 7.3.4 Reconciliation of income statement – presentation form and long form ..................................83 8 Other Information ..........................................................................................................................................85 9 Prospects for Development .........................................................................................................................91 9.1 Factors which will affect the results of the Group ...................................................................................91 9.2 Strategic directions and business priorities ............................................................................................92 10 Representations of the Bank’s Management Board .................................................................................97 11 Statement of Bank Polska Kasa Opieki Spółka Akcyjna on application of Corporate Governance Standards in 2019 .................................................................................................................................................98 12 Statement of Bank Pekao S.A. on Non-financial Data for 2019 .............................................................116 Bank Pekao S.A. 2 Report on the activities of Bank Pekao S.A. for the year 2019 1 Highlights of Bank Pekao S.A. The Group has adopted International Financial Reporting Standard 9 “Financial Instruments” (IFRS 9) with a date of transition of 1 January 2018. The Group decided to take advantage of the exemption allowing it not to restate comparative information for prior periods with respect to classification and measurement (including impairment) changes. 2019 2018 2017 2016 2015 2014 INCOME STATEMENT– SELECTED ITEMS (in PLN million) Operating income 7,938 7,397 7,085 7,036 6,792 7,035 Operating costs (3,204) (3,119) (3,025) (2,991) (2,993) (3,087) Gross operating profit 4,734 4,278 4,061 4,045 3,799 3,948 Profit before income tax 3,016 3,021 2,728 2,863 2,792 3,270 Net profit 2,248 2,311 2,088 2,278 2,290 2,662 PROFITABILITY RATIOS Return on average equity (ROE) - nominally 10.2% 10.7% 9.6% 10.1% 10.1% 11.6% Return on assets (ROA) 1.2% 1.3% 1.2% 1.4% 1.4% 1.8% Net interest margin 2.9% 2.8% 2.8% 2.8% 2.7% 3.1% Non-interest income / operating income 33.1% 34.2% 36.7% 39.4% 40.5% 38.4% Cost / income 40.4% 42.2% 42.7% 42.5% 44.1% 43.9% Costs of risk 0.43% 0.36% 0.40% 0.46% 0.50% 0.57% STATEMENT OF FINANCIAL POSITION – SELECTED ITEMS (in PLN million) Total assets 194,650 184,347 182,077 170,989 165,761 164,323 Customers’ financing (*) 142,146 133,085 128,873 119,034 113,753 105,600 Amounts due to customers (**) 157,750 149,784 146,110 136,630 124,788 121,125 Debt securities issued and subordinated liabilities 4,369 3,745 2,727 301 1,669 2,820 Equity 22,527 21,822 22,259 22,283 22,794 23,387 STATEMENT OF FINANCIAL POSITION STRUCTURE RATIOS Customers’ financing (*) / total assets 73.0% 72.2% 70.8% 69.6% 68.6% 64.3% Securities / total assets 18.6% 15.5% 21.1% 20.8% 13.3% 15.3% Deposits (***) / total assets 83.3% 83.3% 81.7% 80.1% 76.3% 75.4% Customers’ financing (*) / deposits (***) 87.7% 86.7% 86.6% 86.9% 90.0% 85.2% Equity / total assets 11.6% 11.8% 12.2% 13.0% 13.8% 14.2% Total capital ratio 18.7% 18.7% 18.4% 18.2% 18.2% 17.1% EMPLOYEES AND NETWORK Total number of employees 13,779 14,569 15,316 15,882 16,387 16,914 Number of outlets 805 818 843 952 1,022 1,121 Number of ATMs 1,648 1,708 1,745 1,761 1,759 1,825 (*) Including non-treasury debt securities and excluding reverse repo transactions. (**) Excluding repo transactions and lease liabilities. (***) Deposits include amounts due to customers, debt securities issued and subordinated liabilities. Income statement data included in the table above and other notes to the Report on the activities were presented according to income statement in a presentation form, which differs from the long form of the income statement presented in the Unconsolidated Financial Statements of Bank Pekao S.A. for the period ended on 31 December, 2018. Reconciliation of income statement in the presentation form and the long form is in the point 7.3.4 of the Report on the activities
Load more

Recommended publications
  • UBS News for Banks and Financial Institutions March 03, 2011
    UBS News for Banks and Financial Institutions March 03, 2011 Priority: Urgent – Market: Poland Poland: Change of Custodian UBS Zurich is changing its custodian in the Polish market from SIX SIS AG / Bank Handlowy W Warszawie, Warsaw to Bank PeKAO (UniCredit Group), Warsaw as of trade date March 24, 2011. New settlement instructions Trades with settlement date (SD) until and including March 28, 2011 will be settled with UBS' current sub-custodian Bank Handlowy W Warszawie, Warsaw. Trades with settlement date as from March 29, 2011 need to be submitted with the instruction details of UBS' new custodian Bank PeKAO (UniCredit Group), Warsaw (see below). Settlement instructions (as from SD March 29, 2011) Custodian (NEW) Bank PeKAO, Warsaw SWIFT BIC (NEW) PKOPPLPWCUS SWIFT BIC UBS UBSWCHZH80A Account No. Individual account for each client New cut-off times – client deadlines Equities / Fixed Income DFP/RFP SD; 4 p.m. T-Bills DFP/RFP SD; 1 p.m. Equities / Fixed Income DVP/RVP SD; 8 a.m. T-Bills DVP/RVP SD; 8 a.m. Impact Clients and counterparties are requested to instruct with the new custodian details as from settlement date March 29, 2011. To see full market details, please access the Market Guide Poland. Should you have any questions, please contact your UBS – Source: UBS AG Relationship Manager or Account Manager. UBS AG Securities Services P.O. Box CH-8098 Zurich Switzerland Phone: +41-44-236 61 36 Email: [email protected] While the facts in this publication have been carefully researched, UBS cannot be held responsible for their accuracy.
    [Show full text]
  • Pko Bank Polski Spółka Akcyjna
    This document is a translation of a document originally issued in Polish. The only binding version is the original Polish version. PKO BANK POLSKI SPÓŁKA AKCYJNA PKO BANK POLSKI SA DIRECTORS’ REPORT FOR THE YEAR 2010 WARSAW, MARCH 2011 This document is a translation of a document originally issued in Polish. The only binding version is the original Polish version. PKO Bank Polski SA Directors’ Report for the year 2010 TABLE OF CONTENTS: 1. INTRODUCTION 4 1.1 GENERAL INFORMATION 4 1.2 SELECTED FINANCIAL DATA OF PKO BANK POLSKI SA 5 1.3 PKO BANK POLSKI SA AGAINST ITS PEER GROUP 6 2. EXTERNAL BUSINESS ENVIRONMENT 7 2.1 MACROECONOMIC ENVIRONMENT 7 2.2 THE SITUATION ON THE STOCK EXCHANGE 7 2.3 THE SITUATION OF THE POLISH BANKING SECTOR 8 2.4 REGULATORY ENVIRONMENT 9 3. FINANCIAL RESULTS OF PKO BANK POLSKI SA 10 3.1 FACTORS INFLUENCING RESULTS OF PKO BANK POLSKI SA IN 2010 10 3.2 KEY FINANCIAL INDICATORS 10 3.3 INCOME STATEMENT 10 3.4 STATEMENT OF FINANCIAL POSITION OF PKO BANK POLSKI SA 14 4. BUSINESS DEVELOPMENT 17 4.1 DIRECTIONS OF DEVELOPMENT OF PKO BANK POLSKI SA 17 4.2 MARKET SHARE OF PKO BANK POLSKI SA 18 4.3 BUSINESS SEGMENTS 18 4.3.1 RETAIL SEGMENT 18 4.3.2 CORPORATE SEGMENT 21 4.3.3 INVESTMENT SEGMENT 23 4.4 INTERNATIONAL COOPERATION 25 4.5 ISSUE OF EUROBONDS 25 4.6 ACTIVITIES IN THE AREA OF PROMOTION AND IMAGE BUILDING 26 5. INTERNAL ENVIRONMENT 30 5.1 ORGANISATION OF PKO BANK POLSKI SA 30 5.2 OBJECTIVES AND PRINCIPLES OF RISK MANAGEMENT 30 5.2.1 CREDIT RISK 31 5.2.2 MARKET RISK 33 5.2.3 THE PRICE RISK OF EQUITY SECURITIES 34 5.2.4 DERIVATIVE INSTRUMENTS RISK 35 5.2.5 OPERATIONAL RISK 35 5.2.6 COMPLIANCE RISK 36 5.2.7 STRATEGIC RISK 36 5.2.8 REPUTATION RISK 36 5.2.9 OBJECTIVES AND PRINCIPLES OF CAPITAL ADEQUACY MANAGEMENT 37 Page 2 out of 71 This document is a translation of a document originally issued in Polish.
    [Show full text]
  • Financial Data of Asseco Poland S.A. for the Period of 6 Months Ended 30 June 2021
    Financial data of Asseco Poland S.A. for the period of 6 months ended 30 June 2021 Financial data of Asseco Poland S.A. for the period of 6 months ended 30 June 2021 FINANCIAL HIGHLIGHTS ......................................................................................................................................... 4 INTERIM CONDENSED FINANCIAL STATEMENTS OF ASSECO POLAND S.A. FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2021 ............................................................................................................................ 5 INTERIM STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME ............................................................ 6 INTERIM STATEMENT OF FINANCIAL POSITION ........................................................................................................... 7 INTERIM STATEMENT OF CHANGES IN EQUITY ............................................................................................................ 9 INTERIM STATEMENT OF CASH FLOWS .................................................................................................................... 10 EXPLANATORY NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS ................................................................. 12 1. GENERAL INFORMATION ......................................................................................................................................... 12 2. BASIS FOR THE PREPARATION OF INTERIM CONDENSED FINANCIAL STATEMENTS .............................................. 13
    [Show full text]
  • Full Funding for Polimery Police Secured Under Agreements
    04.06.2020 Full funding for Polimery Police secured under agreements Grupa Azoty S.A., Grupa Azoty ZCh Police, Grupa Azoty Polyolefins, Grupa LOTOS, Hyundai Engineering Co., and Korea Overseas Infrastructure & Urban Development Corporation (KIND) have signed agreements for the financing of the Polimery Police project. Also, Grupa Azoty Polyolefins, the SPV formed to implement the project, which is of key importance to the entire chemical industry, has signed a credit facility agreement with a syndicate of domestic and foreign financial institutions. The total project budget is estimated at over EUR 1.5bn. The construction phase is scheduled for completion in 2022. ‘Today marks the end of many months of work to raise funding for Polimery Police, one of the largest industrial projects currently under way in Poland and wider Europe. The project is in progress, with Hyundai, our equity partner and general contractor, having entered the construction site earlier this year. Polimery Police is important to us and to the entire economy. It will help us to strategically diversify our revenue sources and Poland to turn from a net importer to a net exporter of polypropylene,’ said Wojciech Wardacki, President of the Grupa Azoty S.A. Management Board. The press conference held in Police to announce the signing of the agreements was attended by Polish President Andrzej Duda and Minister of State Assets Jacek Sasin. ‘A mechanism was created to implement a project worth PLN 7bn. It really is an incredibly huge and cost- intensive project. But what makes it so cost-intensive is that it is a world-class state-of-the-art facility,’ noted President Andrzej Duda.
    [Show full text]
  • Annual Report of Grupa LOTOS S.A. 2016
    Annual report of Grupa LOTOS S.A. 2016 Annual report of Grupa LOTOS S.A. 2016 Annual report of Grupa LOTOS S.A. 2016 A. Letter of the President of the Management Board B. Grupa LOTOS S.A. Financial highlights C. Grupa LOTOS S.A. Separate financial statements for 2016 D. Directors’ Report on the operations Grupa LOTOS S.A. and the LOTOS Group in 2016 E. Auditor’s report and auditor’s opinion on the separate financial statements Ladies and Gentlemen, It is my pleasure to present the 2016 Annual Report of the LOTOS Group. Our 2016 financial performance was the best in LOTOS history. By capitalising on the expertise and experience of the Management Board and our staff, we successfully achieved the set targets, and delivered strong growth. Our consolidated revenue came in at nearly PLN 21bn, our LIFO-based EBITDA, the most significant financial measure for any oil company, rose 20% during the year (to approximately PLN 2.6bn), and the Group’s ability to generate cash on core operations improved 80%. We steadily and consistently worked towards reducing our debt and optimising sources of financing for investment projects. Our impressive performance was an effect of nearly full utilisation of the refinery units’ capacities, diversification of oil supplies, which was the best in years, and the more than doubled volume of hydrocarbon production from own fields (supported by steady expansionh of the potential of our production assets in Norway). Our trading business was significantly stimulated by the new fuel market legislation: the First Fuel Package introduced by the Polish government to effectively prevent illegal imports of fuels without paying the required taxes.
    [Show full text]
  • Powszechny Zakład Ubezpieczeń SA Jointly with Polski Fundusz Rozwoju Takes Over a 32.8% Stake in Bank Pekao from Unicredit
    8 December 2016 Powszechny Zakład Ubezpieczeń SA jointly with Polski Fundusz Rozwoju takes over a 32.8% stake in Bank Pekao from Unicredit PZU jointly with PFR signed an agreement with UniCredit S.p.A. for the purchase of 32.8% of the shares of Bank Pekao S.A. for a total amount of PLN10.6bn. The purchase price per share is PLN 123. This makes it one of the largest transactions in the European banking sector in recent years. The acquisition of Pekao's shares is in line with PZU's strategy until 2020, which assumes building a banking group with at least PLN140bn in assets and accumulating PLN50bn of third party AuM. PZU and PFR will cooperate in order to ensure the effective implementation of Pekao’s development strategy, preserving the low-risk profile of the bank, its strong profitability and a stable, long-term dividend policy. – Thanks to the finalisation of the transaction, PZU has become the largest financial group in Central and Eastern Europe, being a leader both in insurance and in the banking and asset management sectors. I am convinced that the existence of such a strong financial institution headquartered in Warsaw will have a significant influence on the financial stability and prospects of the sound development of the Polish economy. This institution will have unique possibilities, thanks to its strength and scale, to create value for our shareholders, clients and employees – said Michal Krupinski, PZU's CEO. – One of the challenges for the Polish economy is a lack of the strong local investor base, which is also visible in the banking sector.
    [Show full text]
  • Implementation of the Sara Reporting System in Bank Pekao S.A
    Implementation of the Sara reporting system in Bank Pekao S.A. asseco.com Client’s profile. Bank Pekao SA has operated for over 80 years. It is one Poland for individual and institutional clients. At the end of the largest banks in Central and Eastern Europe. It has of 2009, the capital group consisted of 22 entities: Bank the second largest network of divisions in Poland (over Pekao SA as a dominating entity, 16 subsidiaries, and 6 1000 centres in the whole country) and the network of indirect subsidiaries. Moreover, the bank holds shares over 4000 free-of-charge ATMs in Poland and 20,000 and minority shares in affiliated and co-controlled ATMs all over Europe. Bank Pekao S.A. provides services entities (e.g. KIR S.A., Xelion. Doradcy Finansowi Sp. for nearly 5 million clients, including over 250,000 small- z o.o.). Bank Pekao SA belongs to UniCredit Group, and medium-sized enterprises and over 15,000 large one of the leading international financial institutions, companies. which holds a strong position in 22 European countries, runs almost 9,600 centres, and employs over 160,000 Bank Pekao SA Group consists of financial and people (as at the end of 2010). nonfinancial institutions concentrated around a universal bank; it offers all financial services available in Client’s requirements. Before implementation, preparing mandatory reports according to NBP and Polish FSA requirements was very time-consuming. Expanding the reporting procedures with new systems, which constantly appear in relation to development of the bank, was a considerable challenge. Drawing up essential reports required many hours of processing and presenting specific data by bank employees.
    [Show full text]
  • Grupa Lotos S.A
    (This is a translation of a document originally issued in Polish) GRUPA LOTOS S.A. (THIS DOCUMENT IS AN APPENDIX TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE LOTOS GROUP) INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30TH 2010 ALONG WITH THE INDEPENDENT AUDITOR’S REPORT ON THE REVIEW OF THE FINANCIAL STATEMENTS GRUPA LOTOS S.A. FINANCIAL HIGHLIGHTS .......................................................................................................................................... 3 INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION ........................................................................... 4 INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME ................................................................. 5 INTERIM CONDENSED STATEMENT OF CASH FLOWS ........................................................................................ 6 INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY............................................................................ 7 NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30TH 2010 ....................................................................................................................................................... 8 1. General Information ......................................................................................................................................... 8 2. Changes in the Composition of the Management and Supervisory Boards ...................................................
    [Show full text]
  • 1.1 Statement of Compliance with Corporate Governance Principles
    1.1 STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE PRINCIPLES Corporate governance principles and the scope of application Control systems in the process of preparation of the financial statements Articles of Association of PKO Bank Polski SA General Meeting of Shareholders Supervisory Board of PKO Bank Polski SA Management Board of PKO Bank Polski SA 1.1.1 CORPORATE GOVERNANCE PRINCIPLES AND THE SCOPE OF APPLICATION Corporate governance principles included in the document titled “Best Practice for GPW Listed Companies 2016” Corporate governance principles for supervised Institutions issued by the PFSA CORPORATE GOVERNANCE PRINCIPLES INCLUDED IN THE DOCUMENT TITLED “BEST PRACTICE FOR GPW LISTED COMPANIES 2016” In relation to the Best Practice for GPW Listed Companies 2016 coming into force as of 1 January 2016, the Bank adopted the principles and recommendations contained in this document, with the reservation that recommendation IV.R.2., which concerns enabling the shareholders to participate in the General Meeting of Shareholders using electronic communication means would not be applied, unless the General Meeting of Shareholders makes appropriate amendments to the Bank’s Articles of Association authorizing the Management Board to organize a General Meeting of Shareholders using electronic communication means. The Bank applies recommendation IV.R.2 in part concerning the real-time broadcast of General Meetings of Shareholders. According to the Bank’s experience, its shareholders do not expect more extensive use of means of electronic communication during General Meetings of Shareholders. PKO Bank Polski SA enables participation by shareholders, who are interested in taking part in General Meetings of Shareholders, by setting convenient dates and times for such meetings.
    [Show full text]
  • Report on the Activities of The
    Report on the activities of Bank Pekao S.A. Group for the year 2019 Warsaw, February 20 20 This document is a free translation of the Polish original. Terminology current in Anglo -Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation. Report on the activities of Bank Pekao S.A. Group for the year 2019 1 Highlights of Bank Pekao S.A. Group .......................................................................................................... 3 2 Summary of Performance .............................................................................................................................. 4 3 External Activity Conditions .......................................................................................................................... 6 4 Important Events and Achievements ........................................................................................................... 6 4.1 Changes in the Group’s structure ...........................................................................................................14 4.2 Changes in the Statutory Bodies of the Bank .........................................................................................15 4.3 Organizational changes ..........................................................................................................................23 4.4 Awards and distinctions ..........................................................................................................................24
    [Show full text]
  • Report of Bank Pekao S.A. Group for the First Quarter of 2021 Report on the Activities of Bank Pekao S.A
    Report of Bank Pekao S.A. Group for the first quarter of 2021 Warsaw, May 2021 This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation. Report on the activities of Bank Pekao S.A. Group for the first quarter of 2021 This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation. Warsaw, May 2021 Report on the activities of Bank Pekao S.A. Group for the first quarter of 2021 1. Highlights of Bank Pekao S.A. Group .............................................................................................................................................................................3 2. Highlights of Bank Pekao S.A. .........................................................................................................................................................................................4 3. Summary of Performance .................................................................................................................................................................................................5 4. External Activity Conditions .............................................................................................................................................................................................7
    [Show full text]
  • Curricula Vitae Management Board of Bank Pekao SA
    Mr Luigi Lovaglio, President of the Management Board, CEO A graduate from the Department of Economics at the University of Bologna. He has been working for the UniCredit Group since 1973, progressing through a number of important positions, including ten years as senior executive managing market areas of increasing importance. In 1997, he had been appointed Head of Strategic UniCredit Group Planning and was involved in several mergers of UniCredito with newly acquired banks. Since 1999 he has been cooperating with Bank Pekao S.A., with primary responsibility for the integration of the Bank with the UniCredit Group. He was also Project Leader of the integration of Bank Pekao S.A. with Bank BPH S.A., successfully completed in November 2007. In the years 2000-2003 he was Deputy Chairman of the Management Board and Executive Director of Bulbank AD, the largest Bulgarian bank. Mr Luigi Lovaglio joined the Management Board of Bank Pekao S.A. in September 2003. On May 1 st 2011 Mr Luigi Lovaglio became President of the Management Board, CEO. In 2008, Mr Luigi Lovaglio was awarded the title of Italy’s Commander of the Order of the Star of Italian Solidarity by the Giorgio Napolitano, President of Italy, in recognition of his outstanding contribution to the development of economic cooperation between Poland and Italy. Positions held in governing bodies of companies: Member of the Supervisory Board of Pekao Bank Hipoteczny S.A. According to the submitted declaration Mr Luigi Lovaglio does not carry out the competitive activity to the activity of Bank Pekao S.A.
    [Show full text]